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12/09/2001

MANAGEMENT BUYOUT CREATES SOFTWARE MARKET LEADERSHIP

THE senior management teams of OmniBus Systems Limited and D.A.V.I.D GmbH have confirmed that they have successfully completed the acquisition of the OmniBus and D.A.V.I.D businesses from the liquidator of Management Data A.G., the two firms’ former German parent company.
The deal is backed by London-based Palamon Capital Partners, a Euro 440million private equity fund whose professional staff have substantial experience of successful investments in the Media and Communications industry. The deal was completed in just over six weeks following Management Data’s decision to go into liquidation in mid-July.
Given the high growth prospects, the deal is supported by a substantial injection of additional capital to both support further expansion and to allow the companies to investigate further acquisitions. The businesses aim to “become the market-leader in video and broadcast software systems,” according to OmniBus co-founder, Glyn Powell Evans.
(GB)
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